Is Libor-gate Another PR Headache for Chase?
JP Morgan Chase’s team was supposed to represent the good guys—the Jamie Dimon-led superbank was one of the few financial institutions to emerge from 2008’s economic collapse relatively unscathed in the court of public opinion. But the news hasn’t been good for Dimon lately, and it might get much worse very soon.
This week, Bloomberg Businessweek reported that Chase was among seven big banks subpoenaed by the Attorney Generals of New York and Connecticut to testify regarding the ongoing Libor rate-fixing scandal.
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